Manor Evergreen Fund Invests 50 Million Shekels for 25% Stake in Solar and Control Systems Firm Ord
Less than a month after acquiring control of the nursing company Natan, the Manor Evergreen investment fund, managed by former Leumi Partners executives Dr. Avi Ortal, Yuval Zeira, and Lilach Katz, is making a new investment move. The fund is purchasing a 25% stake in Ord, a company specializing in low-voltage control systems and solar energy projects, controlled by businessman Udi Dor, for 50 million shekels.
As part of the deal, Ord will issue shares to Manor Evergreen at a roughly 11% discount to the pre-announcement share price. Manor Evergreen also received an option to increase its holdings to about 31% within two years, potentially matching Dor's stake. The investment proceeds are expected to support Ord's expansion, mainly through mergers and acquisitions in control systems.
Founded in 1997, Ord installs security and safety low-voltage systems including fire detection and suppression, surveillance, and biometric identification, alongside renewable energy solar projects. The company experienced financial difficulties in the early 2010s, including a failed acquisition and a debt arrangement of about 50 million shekels. In 2023, Udi Dor and Moti Youngraiz acquired control from the founding Adrom family for 16 million shekels, valuing the company at 40 million shekels. After Youngraiz's death, Dor bought his shares at a 56 million shekel valuation.
Under Dor's chairmanship, Ord's stock surged nearly 240% over two and a half years to a current valuation of about 180 million shekels, reflecting Dor's 45% stake at approximately 80 million shekels and a paper profit exceeding 50 million shekels. In 2025, Ord reported revenues of about 202.5 million shekels, an 11% increase from 2024, and a net profit jump of nearly 75% to 15.1 million shekels, driven by improved gross and operating margins in renewable energy.
Udi Dor is a known figure in Israel's capital markets since the 1990s, having co-founded and managed Dor-Berger investment company, which went public in 1998. Despite early success, Dor retired from the firm in 2001, having achieved his goal of early retirement at age 34. Nearly two decades later, he regained control of Ord.
For Manor Evergreen, this is the fourth major investment since early 2023, following acquisitions of 30% of pharmaceutical distributor Medi Market, 41% control of paper manufacturer Sheniv, and a 50% stake in the family nursing company Natan for 180 million shekels. Since its mid-2023 founding, the fund has invested nearly one billion shekels in the local market and achieved a significant exit in the security optics company RP Optical, whose shares have risen over 340% since its IPO, generating profits of about 630% on the investment.
